Former News Limited senior executive Peter Macourt has been announced as a prospective chairman and is expected to replace Quadrant Private Equity executive Marcus Darville, who currently holds the role. Mr Macourt was chief operating officer at News Limited until December 2011.

Mr Macourt will be joined on the board by former chief operating officer of blood plasma producer CSL, Peter Turner, and Dennis O’Neill, a former engineering who now sits on a number of boards, including financial advisory business Wallace Group, the report said.

Since leaving CSL in October 2012, Mr Turner has also embarked on a board career, joining the board of NPS Medicinewise, a non-profit medical information service.